How to arm yourself against the impact of the coronavirus

03/17/20

Fiscal, legal, financial and people points to consider for your organisation

Globally, the coronavirus is gaining more and more grip and COVID-19 is starting to paralyse society and the economy. Government bodies and other organisations are taking measures to prevent any further spread.

As a result, the virus does not only impact the health of your employees, but can also have far-reaching consequences for your business operations. What measures can you take to prevent this?

Get a grip on your liquidity position

An important first step is to gain a good insight into your liquidity position in the short and medium term. The pandemic and the measures taken may cause a significant decline in your income and cash flows. If you are unable to adapt your spending pattern accordingly, your liquidity position will deteriorate rapidly.

Start discussions with your stakeholders in good time

It is also important that you enter into timely communication with your customers, suppliers, employees, financiers and other stakeholders. Explain the consequences of the corona crisis for your company and how you deal with them proactively. Show which measures you are taking and, by doing so, ensure that you keep control.

We have created an overview (in Dutch) for you listing how you can prepare and which fiscal, legal and financial measures are possible. The English version will be available on Thursday. Please click the link to read more about the most important points to consider for your organisation.

Contact

Edwin van Wijngaarden

Edwin van Wijngaarden

Partner, PwC Netherlands

Tel: +31 (0)88 792 38 13

Nicolien Borggreve

Nicolien Borggreve

Partner, PwC Netherlands

Tel: +31 (0)88 792 50 68

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